Savannah morning news. [volume] (Savannah) 1868-1887, 1887-03-11
NOT IN THE BIG DEAL.
GEN. ALEXANDER DENIES THAT
THE CENfi;ALIS SCOOPED.

He Says that tho Road 10 Owned by the
Same Parties that Elected aim Presi-
dent-The Stock Market Not 3 ffected b y
the Rumored DesI--WhatI Is SsidAbout
the Baltimore aud Ohio Purchase.
Gen. E. p. Alexander was asked yes
terday about the reported scoop OF all the
Southern railway systems by the Rich
mond aud West Point Terminal people.
! The General stated that he had heard 1t
said that the Baltimore and Ohio had
given the Terminal people the refusal OF a
majority of their stock. He thought per-
haps that the option was still open, cir
cumstance which may explain President
Garrett's silence.
As to the Georgia Central being in
cluded in the scoop, the President de-
clared that the Richmond and West Point
Terminal does not own it, and that 1t is
held by the same parties who elected
him.
AT the intlmatiou that possibly the rail-
roads are acting upon his suggestion in
his treatise on Railway Reform, and are
combining for protection before the inter-
state commerce bill goes into effect, Gen.
Alexander smiled and remarked that
perhaps some of them are.
The reported deal has had no visible
effect upon Central stock. The market is
quiet and has been for several days. The
stock was quoted yesterday at 1851 bid
aud 126 asked. There were no transac-
tiOns. There was a good deal of talk
yesterday in regard to the deal
and the effect it will have
upon Savannah If the Central
Is included along with the other roads in
che great scooD. There have been so many
reports circulated that nobody claims to
have much of an idea as to what the inside
OF the deal Is.
The following is what the New York
Tribune obtained from Gen. Samuel F.
Thomas respecting the purchase OF the
Baltimore and Ohio by the Sully,
Br1ce and Thomas syndicate: 81 am not
In position to talk about this transac-
ton, for 1t has not yet been consummated.
IL is idle to expect me TO say anything
dennlte, for my relations with my asso-
ciates forbid my speaking with the tree
dom that L would exercise were the mat
ter settled. But | think l am at liberty
to say that important negotiations are
pending which involve a change in the
position OF the Baltimore and Ohio rail-
road stock, which heretofore has
been held as family interest,
and the new ownership which is
proposed would bring into the property
| important New York as well as other
capitalists. And the negotiations not
only look to such distribution of con-
troll, but will involve the Reading, Jersey
Central and Pennsylvania railroads and.
the telegraph interests in relations which
Will tend to assure harmony and CO.
operation where before there were dis
putes and disagreement. The project ia
large one, and if carried out will result
| in arrangements which l believe will be
conducive to the benefit of general securi-
ties. see no reason why, when an under
standing has been reached, there should
not be given to it the widest publicity, for
it is in line with a policy that will be ad-
| vantageOus to the public as we'll as to the
interests specially affected. The negotia-
tions have made favorable progress and
have reached a stage where | think there
| Is reason to expect that the widest hopes
| OF those who are aiming at reconciliation
| will be realized"
"Then you are willing to say that no
| snags or distractions have been encoun-
tered which look InsurmountabIeY'
"None whatever" replied Gen. Thomas.
81 believe it is only question of a short
time when by some agreement and in
some way harm0nizing of these impor-
tant interests will be secured. The idea
is not new one; it was taken up by we'll
| known capitalists more than a year ago
and has been in mind more or less ever
since. The tendency In railroad prop
critics for some time has been toward the
substitution of an imDersOnal for per-
| sonal management as most contri butive
to the best interests Of the public and the
owners Of railroad properties. This
principle was first recognized in the Van
derbilt system, and the Baltimore and
Ohio Ia really the last company which
has kept rs ownership in close hands,"